Pre-open:
Retail sales give a boost to futures on the hopes that the rebate checks will be used to buy flat screen TV's and the likes. I disagree given the massive credit card debt incurred the past few months, but watch NQ resistance between 2008 and 2011.25. A break above those numbers could set up a run to weekly R2 at 2028. ES is still held back by the 200 ema at 1410.50. The VIX closed at 17.79, watch for divergences as it is awfully low. Oil is still a problem at 124.50.
Noticing that GS is down pre-open. Watch those financials, XLF resistance is at 26.50 and 26.75.
Retail sales give a boost to futures on the hopes that the rebate checks will be used to buy flat screen TV's and the likes. I disagree given the massive credit card debt incurred the past few months, but watch NQ resistance between 2008 and 2011.25. A break above those numbers could set up a run to weekly R2 at 2028. ES is still held back by the 200 ema at 1410.50. The VIX closed at 17.79, watch for divergences as it is awfully low. Oil is still a problem at 124.50.
Noticing that GS is down pre-open. Watch those financials, XLF resistance is at 26.50 and 26.75.
This entry was posted
on Tuesday, May 13, 2008 at 5/13/2008 09:07:00 AM.
You can skip to the end and leave a response.
» Post a Comment